Funding aims to impact an estimated 50,000
veterans, primarily focused on affordable housing issues
ATLANTA, Nov. 10,
2023 /PRNewswire/ -- In celebration of Veterans Day,
The Home Depot Foundation is growing its mission to serve those who
served through an updated commitment to invest $750 million in veteran causes by the end of
fiscal year 2030. The Foundation announced today it surpassed
$500 million invested in veteran
causes to-date since 2011, meeting its previous financial
commitment two years early. Through this incremental $250 million, the Foundation, its nonprofit
partners and Team Depot, The Home Depot's associate volunteer
force, will focus primarily on affordable housing issues and impact
an estimated 50,000 veterans.
"The Home Depot and The Home Depot Foundation have a long
history of living our values by giving back to the heroes who have
selflessly served our nation," said Ted
Decker, chair, president and chief executive officer of The
Home Depot. "We achieved our goal of investing half of a billion
dollars in veteran causes two years earlier than expected because
of the tireless efforts of our nonprofit partners and our
associates who give back year-round through Team Depot. Our mission
is not complete while there are still veterans who lack an
affordable and reliable place to call home – that's why we're
growing our commitment to $750
million by 2030."
According to the Housing Assistance Council, nearly a quarter of
all veteran-owned homes (approximately 1.76 million homes) are more
than 60 years old, and 1.6 million veteran households report
difficulty entering their home or accessing the kitchen, bedroom or
bathroom. In addition to facing inadequate housing, more than
33,000 veterans are experiencing homelessness, according to the
Department of Housing and Urban Development. Funding from the
Foundation to its network of national and local nonprofit partners
will focus on tackling these issues by reducing the cost of housing
for veterans, helping them access housing and ensuring they are
able to age in place in their own homes.
As part of this investment milestone, the Foundation is also
awarding more than $14 million in new
grants to veteran housing nonprofit partners like Habitat for
Humanity International, Volunteers of America and Jared Allen's Homes for Wounded
Warriors. With these grants, the Foundation and its partners aim to
enable more than 800 critical home repairs for veterans over the
next year, provide more than 500 units of housing for at-risk
veterans and support the construction of five new mortgage-free
smart homes for combat-wounded veterans.
Through its annual Operation Surprise campaign, which runs
through Nov. 20, the Foundation and
Team Depot are bringing service and moments of surprise to our
nation's veterans by:
- Surprising three veteran families by fully paying off the
mortgages on their homes, helping them age in place and build
generational wealth.
- Covering December housing payments for more than 500 veterans,
including those exiting homelessness or at risk of
homelessness.
- Issuing $875,000 in surprise
grants to more than a dozen veteran service nonprofits that
have partnered with the Foundation for over a decade.
- Completing hundreds of veteran service projects nationwide,
giving back to heroes in the communities where Home Depot
associates live and work. Since 2011, Team Depot has completed more
than 1.5 million volunteer hours in service to veterans.
The Home Depot is proud to have tens of thousands of veterans,
service members and military spouses in orange aprons. To learn
more about The Home Depot's commitment to the veteran and military
communities, visit homedepot.com/military. Follow
#OperationSurprise to see how the Foundation and Team Depot are
bringing it home for veterans across the country.
About The Home Depot Foundation
The Home Depot Foundation, the nonprofit arm of The Home
Depot (NYSE: HD), works to improve the homes and lives of U.S.
veterans, support communities impacted by natural disasters and
train skilled tradespeople to fill the labor gap. Since 2011, the
Foundation has invested more than $500
million in veteran causes and improved more than 60,000
veteran homes and facilities. The Foundation has pledged to invest
$750 million in veteran causes by
2030 and $50 million in training the
next generation of skilled tradespeople through the Path to Pro
program by 2028. To learn more about The Home Depot Foundation
visit HomeDepotFoundation.org and follow us
on Twitter @HomeDepotFound and
on Facebook and Instagram @HomeDepotFoundation.
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SOURCE The Home Depot Foundation